Last $33.26 USD
Change Today -0.09 / -0.27%
Volume 85.4K
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As of 8:04 PM 09/17/14 All times are local (Market data is delayed by at least 15 minutes).

vince holding corp (VNCE) Key Developments

Vince Holding Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and First Half Ended August 2, 2014; Revises Earnings Guidance for the Fiscal 2014

Vince Holding Corp. announced unaudited consolidated earnings results for the second quarter and first half ended August 2, 2014. For the quarter, the company reported net sales of $89,326,000, income from operations of $19,944,000, income before income taxes of $17,024,000, net income from continuing operations of $10,501,000 or $0.27 per diluted share, net income of $10,501,000 or $0.27 per diluted share, compared to the net sales of $74,294,000, income from operations of $14,985,000, income before taxes of $9,339,000, net income from continuing operations of $8,395,000 or $0.32 per diluted share, net loss of $10,534,000 or $0.40 per diluted share, for the same quarter a year ago. On adjusted basis, income from operations was $20,515,000, income before income taxes was $17,595,000, net income from continuing operations was $10,844,000 or $0.28 per diluted share, net income was $10,844,000 or $0.28 per diluted share compared to income from operations of $17,722,000, income before income taxes of $14,435,000, net income from continuing operations of $8,661,000 or $0.23 per diluted share, net income of $8,661,000 or $0.23 per diluted share a year ago. Capital expenditures totaled $6.0 million, $2.2 million of which was attributable to real estate activities, such as new and remodeled stores and shop-in-shop build-outs, and $3.5 million of which was attributable to new headquarter and showroom facilities in New York. For the first half, the company reported net sales of $142,778,000, income from operations of $25,151,000, income before income taxes of $19,331,000, net income from continuing operations of $11,885,000 or $0.31 per diluted share, net income of $11,885,000 or $0.31 per diluted share, compared to the net sales of $114,657,000, income from operations of $16,885,000, income before taxes of $490,000, net loss from continuing operations of $1,384,000 or $0.05 per diluted share, net loss of $25,643,000 or $0.98 per diluted share, for the same quarter a year ago. On adjusted basis, income from operations was $25,722,000, income before income taxes was $19,902,000, net income from continuing operations was $12,228,000 or $0.32 per diluted share, net income was $12,228,000 or $0.32 per diluted share compared to income from operations of $20,896,000, income before income taxes of $14,584,000, net income from continuing operations of $8,750,000 or $0.23 per diluted share, net income of $8,750,000 or $0.23 per diluted share a year ago. The company has revised its earnings guidance for fiscal 2014. It has increased adjusted diluted earnings per share to $0.90 to $0.94 from $0.88 to $0.92 per share. The company now expects to achieve total net sales of $335 million to $345 million, including revenues from 8 to 9 new retail stores and comparable store sales growth in the high single-digit to low double-digit range. It expects to expand gross margin 200 basis points to 275 basis points and spend approximately $18 million to $22 million in capital expenditures.

Vince Holding Corp Presents at Goldman Sachs 21(st) Annual Global Retailing Conference, Sep-04-2014 10:35 AM

Vince Holding Corp Presents at Goldman Sachs 21(st) Annual Global Retailing Conference, Sep-04-2014 10:35 AM. Venue: The Plaza Hotel, New York, New York, United States. Speakers: Jill Granoff, Chairman and Chief Executive Officer, Lisa K. Klinger, Chief Financial Officer, Principal Accounting Officer and Treasurer.

Vince Holding Corp to Report Q2, 2015 Results on Sep 03, 2014

Vince Holding Corp announced that they will report Q2, 2015 results Pre-Market on Sep 03, 2014

Vince Holding Corp, Q2 2015 Earnings Call, Sep 03, 2014

Vince Holding Corp, Q2 2015 Earnings Call, Sep 03, 2014

Vince Holding Corp Announces Board Changes

Vince Holding Corp. announced that on June 10, 2014, T. Scott King resigned from the board of directors, effective June 10, 2014. Mr. King's resignation did not involve a disagreement with the company or any matter relating to the company's operations, policies or practices. On June 10, 2014, pursuant to the company's certificate of incorporation, Sun Cardinal, LLC, an affiliate of Sun Capital Partners Inc. appointed Christopher T. Metz to the Board, effective June 10, 2014. Mr. Metz will fill the vacancy created by Mr. King's resignation. Mr. Metz will serve on the compensation committee and the nominating and corporate governance committee of the Board as well as serve as the Lead Independent Director.

 

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